AAON (NASDAQ:AAON) Downgraded to “Buy” at BidaskClub

BidaskClub cut shares of AAON (NASDAQ:AAON) from a strong-buy rating to a buy rating in a report released on Tuesday morning, BidAskClub reports.

AAON has been the topic of a number of other research reports. Zacks Investment Research lowered AAON from a hold rating to a sell rating in a research report on Tuesday. TheStreet lowered AAON from a b+ rating to a c rating in a research report on Thursday, May 9th. Finally, DA Davidson lowered AAON from a neutral rating to an underperform rating and set a $35.00 target price on the stock. in a research report on Monday, May 6th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. AAON presently has a consensus rating of Hold and a consensus target price of $40.50.

AAON stock opened at $48.98 on Tuesday. AAON has a 12 month low of $31.55 and a 12 month high of $52.50. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 60.47, a P/E/G ratio of 2.50 and a beta of 0.97.

AAON (NASDAQ:AAON) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.02). AAON had a return on equity of 19.79% and a net margin of 10.97%. The company had revenue of $113.82 million during the quarter, compared to analysts’ expectations of $109.92 million. During the same quarter in the prior year, the company posted $0.08 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, sell-side analysts forecast that AAON will post 1.28 earnings per share for the current year.

The firm also recently announced a semiannual dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.16 per share. The ex-dividend date is Friday, May 31st. AAON’s dividend payout ratio (DPR) is 39.51%.

In related news, CFO Scott M. Asbjornson sold 3,824 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $48.83, for a total value of $186,725.92. Following the completion of the transaction, the chief financial officer now directly owns 856,247 shares of the company’s stock, valued at approximately $41,810,541.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Stephen E. Wakefield sold 1,118 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $47.83, for a total value of $53,473.94. Following the completion of the transaction, the vice president now directly owns 6,878 shares of the company’s stock, valued at $328,974.74. The disclosure for this sale can be found here. Insiders have sold a total of 6,042 shares of company stock worth $292,967 in the last quarter. Insiders own 22.24% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. PRW Wealth Management LLC acquired a new stake in shares of AAON in the 4th quarter worth $46,000. Ellis Investment Partners LLC acquired a new stake in shares of AAON in the 1st quarter worth $65,000. One Wealth Advisors LLC acquired a new stake in shares of AAON in the 1st quarter worth $75,000. Bank of Montreal Can increased its stake in shares of AAON by 12.1% in the 4th quarter. Bank of Montreal Can now owns 2,689 shares of the construction company’s stock worth $94,000 after acquiring an additional 290 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of AAON by 33.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,061 shares of the construction company’s stock worth $107,000 after acquiring an additional 773 shares during the last quarter. 72.68% of the stock is owned by hedge funds and other institutional investors.

AAON Company Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. It offers rooftop units, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, self-contained units, and coils.

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